Cemex SAB de CV (CX) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of Cemex SAB de CV (NYSE:CX) by 36.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,940,828 shares of the construction company’s stock after selling 1,116,250 shares during the period. Bank of New York Mellon Corp owned approximately 0.13% of Cemex SAB de CV worth $12,731,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Baird Financial Group Inc. grew its stake in shares of Cemex SAB de CV by 53.3% during the second quarter. Baird Financial Group Inc. now owns 50,766 shares of the construction company’s stock worth $333,000 after acquiring an additional 17,643 shares during the last quarter. Pinebridge Investments L.P. grew its stake in shares of Cemex SAB de CV by 338.3% during the second quarter. Pinebridge Investments L.P. now owns 389,637 shares of the construction company’s stock worth $2,556,000 after acquiring an additional 300,740 shares during the last quarter. HPM Partners LLC purchased a new stake in shares of Cemex SAB de CV during the second quarter worth about $304,000. Brandes Investment Partners LP grew its stake in shares of Cemex SAB de CV by 9.8% during the second quarter. Brandes Investment Partners LP now owns 53,750,845 shares of the construction company’s stock worth $353,342,000 after acquiring an additional 4,805,568 shares during the last quarter. Finally, Aperio Group LLC lifted its holdings in shares of Cemex SAB de CV by 13.5% during the second quarter. Aperio Group LLC now owns 589,223 shares of the construction company’s stock worth $3,865,000 after purchasing an additional 70,202 shares during the period. Institutional investors and hedge funds own 34.25% of the company’s stock.

A number of equities research analysts recently commented on the company. Barclays decreased their target price on Cemex SAB de CV from $10.00 to $8.00 and set a “buy” rating for the company in a report on Friday, October 26th. ValuEngine downgraded Cemex SAB de CV from a “sell” rating to a “strong sell” rating in a report on Monday, October 22nd. Citigroup set a $10.00 target price on Cemex SAB de CV and gave the stock a “buy” rating in a report on Tuesday, September 4th. Zacks Investment Research downgraded Cemex SAB de CV from a “hold” rating to a “sell” rating in a report on Monday, October 8th. Finally, Scotiabank downgraded Cemex SAB de CV from an “outperform” rating to a “sector perform” rating in a report on Monday, October 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $8.86.

Cemex SAB de CV stock opened at $5.02 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.81 and a quick ratio of 0.57. Cemex SAB de CV has a 52 week low of $4.47 and a 52 week high of $8.51. The stock has a market cap of $7.14 billion, a P/E ratio of 12.24, a PEG ratio of 0.58 and a beta of 1.72.

Cemex SAB de CV (NYSE:CX) last released its earnings results on Thursday, October 25th. The construction company reported $0.11 EPS for the quarter. Cemex SAB de CV had a return on equity of 4.24% and a net margin of 3.38%. The firm had revenue of $3.75 billion during the quarter. On average, equities analysts anticipate that Cemex SAB de CV will post 0.5 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Cemex SAB de CV (CX) Shares Sold by Bank of New York Mellon Corp” was published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another publication, it was stolen and reposted in violation of United States and international trademark & copyright laws. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2018/12/08/cemex-sab-de-cv-cx-shares-sold-by-bank-of-new-york-mellon-corp.html.

Cemex SAB de CV Company Profile

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, clinker, and other construction materials. The company also offers various complementary construction products, including asphalt products; concrete blocks and roof tiles; architectural products; concrete pipes for storm and sanitary sewers applications; and other precast products comprising rail products, concrete floors, box culverts, bridges, drainage basins, barriers, and parking curbs.

Read More: Benefits of owning preferred stock

Institutional Ownership by Quarter for Cemex SAB de CV (NYSE:CX)

Receive News & Ratings for Cemex SAB de CV Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cemex SAB de CV and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply